USTR Lighthizer: If Biden administration eases China tariffs, will show US 'not serious'...

Early Thursday morning in Asia, US Trade Representative (USTR) Robert Lighthizer appeared for an interview with Reuters. The diplomat reiterated his dislike for China while urging US President-elect Joe Biden to not ease China tariffs.

Key quotes

• President-elect Biden should insist China keep implementing phase 1 trade deal, use dispute system to resolve conflicts.
• If Biden administration eases China tariffs, will show u.s. 'not serious' about treating Beijing as strategic adversary.
• China phase 1 trade deal implementation "reasonably good" in some parts, not good in others.

FX implications

Given the market's current attention towards US coronavirus (COVID-19) stimulus talks, US-China tussles get a less audience. As a result, the news is widely ignored. Although, AUD/USD fades the upside momentum below 0.7600 while eyeing the Australian employment data.